PayPal Project (Codename [URGENT!])

[Zubair1]

Hello

I was wondering if some one here is interested in running a Payment proccessor site such as Paypal, i really want to run one and i have a feeling
that it will run very good, if everything is working well as planned
i have seen that many people in the Asia, Eastern Asia have trouble sending money through paypal, and to be honest i do aswell.

so i thought up to start one, i would've till now but the problem is i dont have anything to invest, except buy a domain name

So it would be really nice if i can find some one here who is willing to invest in this bussiness, we will spilit and earnings coming. we can talk about this more

also i have seen many host cry that they loose like 40% clients because
most of the people are from asian district so they can't able to send money throught paypal. but if we run a payment proccessor site which allow services
to those regions, i'm sure it will be going well. as i have also heard that
paypal is being too cruel with their customers i've seen many complains about them i think you should've seen too.

well i am posting this to find a invester/partner but i do have a small requirement that the person is will invest should have and must have a paypal account which is fully verified by them. i need this so that i have
payment script from which users will also be able to deposit their money from a paypal, stormpay, egod, netpay, and other services including check.

I dont know why but i dont think we will be needing much investment in it
the only thing we will need is a SSL Certificate, domain. and maybe
we should verify our site with online organizations for better trust relationship.

if anyones interested please do contact me directly.
MSN Live Support : [email protected]

OR PM me here.

Thank you
Bye!

 

[user-7256]

Just out of curiosity, do you know how HARD those services are? Even eBay didn't make their own, they bought out PayPal... and for good reason.

 

[yeppers]

Yes, to make a completely secure thing like paypal is simply MISSION IMPOSSIBLE... well not quite, but serisouly, this is like almost impossible. I dont know where to start lol.

 

[alanchau]

Trust me, people aren't going to invest money in a project when you can't even make a proper business proposal and take 10 minutes to proofread it.

 

[user-7256]

PayPal is not completely secure, unfortunately.

I do not think, as asianinvasion says, that you will get any funding... sorry.

 

[Zubair1]

i know, compu paypal was not always ebay's property and that they bought it
tho what i am saying is not to become the next paypal that quite frankly would be impossiable in such a competetion. but i am just saying a service for the outlanders
that have trouble with paypal, they can use ours even paypal wasn't always this big
time ago no one knewed what or who is paypal, even still now i ask many people
and they say : who or what is that ?

Well my point is that, i am not saying to make a service which drowns us down
we should start a small service. and then keep expanding it from time to time.
we can transfer funds from country to country by international bank's
for example : you're in china (you're my partner) and i am in canada
we both make dealings, so this is a very small service. but if we can gather
more trustable people around the world or open branches / offices we can surely make a huge service.

 

[WebWizard]

The problem with paypal is if they bankrupt today no one will know where money went tommorow. Paypal is a rough company, and your going to need alot more than just a domain and a few dollars.

 

[PolurNET]

If you have no basic money to invest, forget it;

Plus, if you do have the money buy another existing payment processor, and then add the features you want to it. There's many such as stormpay, yowcow, etc. If you have the purchasing power to buy them, then that's what you need to start.

 

[jstep]

I would find it extremely difficult to invest even $1000 with you if I had a $100,000,000 of free capital

My reason is that you have not spent the time to correctly identify your business plan.

In writing a proposal the most important thing is the presentation of it.

 

[user-7256]

Yes - in a proposal you need to make sure you can answer any questions that come up, and you need to be able to know how it's going to work before it even starts...

 

[AndrewZ]

If you have no basic money to invest, forget it;

Plus, if you do have the money buy another existing payment processor, and then add the features you want to it. There's many such as stormpay, yowcow, etc. If you have the purchasing power to buy them, then that's what you need to start.

Agreed.

I find it hard to take your request seriously given the fact the only investment power you have is purchasing an 8$ domain name.

 

[cache]

which country are you in?

You should first check the regulation from your country. Not everyone can handle money. In USA, you even need license to give financial advice.

 

[barefoottech]

Trust me, people aren't going to invest money in a project when you can't even make a proper business proposal and take 10 minutes to proofread it.

I fully agree
Several things wrong in your concept.

1/ People who don't trust Paypal , Why would they use your Service.
2/ People who can't use Paypal, usually because of problems in their country of origin.
3/ There are already those other payment processors you mentioned like StormPay,MoneyBookers,Emo et al.
4/ Do you even have any concept of the magnitude of this task you want to undertake.
Fraud detection and prevention alone cost payment processors millions of dollars annually.
5/ Trust and Fidelity Factors. You have no financial backing and existing infrastructure to support this venture, so how can you give people confidence in your service.
6/ Government Regulations and controls. eBay and others have difficulty providing and meeting all the rules and regulations on financial Operations some countries place on them.
7/ Most importantly ,why would you want to do this ,unless you have a hidden or untold reason/agenda. There is no justification at all to start/attempt to start another payment service. What is so

URGENT!

anyway.

 

[JMJ]

You have to be doing big volume to succeed in this business. Paypal for example probably earns roughly 1.5% on each transaction. More on some less on others but probably a good average. So to make $150 a day you would have to process $10,000 a day. That covers about one employee and you still have to pay all of your other expenses. $100,000 a day is looking better $1,500 to work with but not enough to stabilize and securitize a company of this sort. Security and fraud issues being your biggest problems and most costly ones. I'm quite sure Paypal spends more than that a day on those two alone.

 

[jmweb]

You have to be doing big volume to succeed in this business. Paypal for example probably earns roughly 1.5% on each transaction. More on some less on others but probably a good average. So to make $150 a day you would have to process $10,000 a day. That covers about one employee and you still have to pay all of your other expenses. $100,000 a day is looking better $1,500 to work with but not enough to stabilize and securitize a company of this sort. Security and fraud issues being your biggest problems and most costly ones. I'm quite sure Paypal spends more than that a day on those two alone.

Its a bit more then 1.5%, it is 1.9% to 2.9% + a 0.30 per transaction fee.

I think the OP has a good idea however he has no idea on how to plan it. By the looks of it he is merely looking for someone to invest lots of $$$ into it and if it works, then split the profits 50/50. If it fails, too bad for you. Not exactly a great position to put yourself into considering the business plan hes made up.

Would this work? Heck yes, I've considered doing it before and got most of the plans made to make the site. Will you see me doing it soon? Heck no, if I wasn't busy with our other projects I would have done it by now.

 

[devanium]

I think credit card fraud and money laundering would be your biggest problems.

 

[wildbest]

Every successful venture has started by people around saying it is impossible! So, you're on the right track.
Don't start by saying I want to make something like company A, B, C, or D!
Start by saying I want to make something that nobody has made until now!
And remember, everything is possible but not always!

 

[KF1]

I could provide you with a Escrow script

 

[JMJ]

Its a bit more then 1.5%, it is 1.9% to 2.9% + a 0.30 per transaction fee.

I think the OP has a good idea however he has no idea on how to plan it. By the looks of it he is merely looking for someone to invest lots of $$$ into it and if it works, then split the profits 50/50. If it fails, too bad for you. Not exactly a great position to put yourself into considering the business plan hes made up.

Would this work? Heck yes, I've considered doing it before and got most of the plans made to make the site. Will you see me doing it soon? Heck no, if I wasn't busy with our other projects I would have done it by now.

Actually processing companies get "Buy Rates" from Visa, Mastercard, etc. Just like a loan company. They get their money at x.x% and increase that rate to earn their money. I've worked in both fields so I'm familiar with the industries. They do get full percentages on funds from paypaltopaypal but have to pay these charges from whatever company when transactions occur via credit cards. An example would be Visa charges you .15 a transaction and 1% of total. You then charge .25 and 3%. Your earnings are .10 and 2%.

 

[cache]

If it is a good market, big guy like google would be doing it. When google wallet is going to be available?